These are the basics, and of course, anyone new to the game must read through. Thank you for a very long article, but I can not see any personal experiences you share, except for the ending you seem to want to spread.
Topic: 19 Things No One Will Ever Tell You About Bitcoins In 2018 (Read 147 times)
"19 things that everyone knows after 1 hour of reaserch after hearing from other person "bitcoin is rising fast" and tiping to google "what is bitcoin" "- i think that this is correct topic.
True, but since reading this text takes one minite or so you have to admit that this can save people 59 minutes of their life
A few of these things are quite unprecise however.
Oh yea, OP, nobody will tell me that "bitcoin is a cryptocurrency" 
You killed it all in the first sentence. I really thought that this is going to get interesting, but they I read another great sentence:
Here are things to know about Bitcoins:
This is such an important piece of information. We all should know that when you're writing this garbage post BTC is worth 8168.88 and 1 min later it was wort 8169.99, and let's not forget that while I'm writing this it's 8310 USD and it was 8503 a couple hours before.
Some other things that I've learned today from OP's text:
My private key is my password
My transactions are stored in "Block Chain"
There's a cryptocurrency called "Doshcoin"
Bitcoin was banned by china many times. I always thought that you either ban something or not, but maybe I was wrong.
You killed it all in the first sentence. I really thought that this is going to get interesting, but they I read another great sentence:Here are things to know about Bitcoins:
Quote
3. As at the time of writing this article (24th of July 2018) a bitcoin equals 8164.88 dollars i.e
1 Btc = $8164.88
1 Btc = $8164.88
This is such an important piece of information. We all should know that when you're writing this garbage post BTC is worth 8168.88 and 1 min later it was wort 8169.99, and let's not forget that while I'm writing this it's 8310 USD and it was 8503 a couple hours before.
Some other things that I've learned today from OP's text:
My private key is my password
My transactions are stored in "Block Chain"
There's a cryptocurrency called "Doshcoin"
Bitcoin was banned by china many times. I always thought that you either ban something or not, but maybe I was wrong.
You haven't revealed anything new or spectacular. And certainly not something that is connected especialy for 2018 period so I don't actualy understand the point of your post.
Think these are actualy some basics that average Bitcoin user is aquainted with and just want to add that not all of these statements are quite correct.
Think these are actualy some basics that average Bitcoin user is aquainted with and just want to add that not all of these statements are quite correct.
A couple of points caught my attention:
iii. Mine (mining is free) then sell at the market value
Mining is not free. It costs electricity, there is a hardware investment, and you would probably have to count in a lot of additional expenses, like cost of labor and others. Depending on the country, the costs of mining may approach the costs of direct bitcoin purchase.10. Individual bitcoins are stored in app called Wallets. Examples are Coinbase, My Ether Wallet, Paxful, Mycellium etc.
Incorrect. The private keys that you need to spend your individual bitcoins are stored in your wallet. The individual bitcoins are just records in the public ledger.
"19 things that everyone knows after 1 hour of reaserch after hearing from other person "bitcoin is rising fast" and tiping to google "what is bitcoin" "- i think that this is correct topic.
Bitcoin is a cryptocurrency, i.e a form of electronic cash. It is the world's first decentralized digital currency, meaning it is designed to work without a central bank or any regulation and it can be transfered from person to person.
Here are things to know about Bitcoins:
.
1. First Bitcoin was first issued in 2009 by someone with a pseudo name Satoshi Nakamoto. Who is also believed to be the founder.
.
2. In 2009 when it was established, a bitcoin is worth $0.0009. I.e
$1 = 1111 Btc
.
3. As at the time of writing this article (24th of July 2018) a bitcoin equals 8164.88 dollars i.e
1 Btc = $8164.88
.
4. The first real-world transaction on Bitcoin was carried out on 22 May 2010 when Laszlo Hanyecz bought two pizzas in Jacksonville, Florida for 10,000 Bitcoins. In five days, the price grew 900%, rising from$0.008 to $0.08 for 1 bitcoin.
.
5. As dollar and other currency are to 2 decimal places, bitcoins is to 8 decimal places i.e
$1 = 0.01 cent
1 btc= 0.00000001 Satoshi
.
6. How do individuals get bitcoins?
i. Buy from person or visit websites that sell bitcoins and pay them. E.g Coinbase
.
ii. Sell product or offer services in exchange for bitcoins or to be paid using bitcoins.
.
iii. Mining (i.e running a software to find bitcoin) just like mining gold.
.
7. How do people profit from bitcoin?
i. Invest or trade i.e you can buy and hold to sell at a later time for profit or do short term trading.
.
ii. Offer discounts to people who are willing to pay using bitcoins. E.g if my phone cost #10,000 in the market, I can decide to sell it for #5000 (worth in bitcoins) if you are willing to pay me in bitcoins. So just convert the #5k to bitcoins and transfer it to me.
.
iii. Mine (mining is free) then sell at the market value
.
8. Certain amount of Bitcoins will be released every ten minutes and total bitcoins that will ever be issued is 21,000,000 which will last till year 2140.
.
9. Just like Fiat currency e.g Dollar and Naira, Bitcoin is not backed by anything tangible. It increases in value by the trust people place on it. The more people try to invest on it, the more it value soar.
.
10. Individual bitcoins are stored in app called Wallets. Examples are Coinbase, My Ether Wallet, Paxful, Mycellium etc.
.
11. Every Bitcoin wallet issues you a
i. Public key -
27 to 32 Alphanumeric (alphabet and number) character. So u give this key to anyone who wish to send you coins.
.
ii. Private key- Password to access ur bitcoin account.
.
12. As at 18/07/2018, Mastercard has won the patent to link cryptocurrency with fiat accounts meaning as a user, you would have two linked accounts with your bank — one for your fiat wealth, and one for cryptocurrency.
.
13. All the bitcoins transactions are stored in a public ledger called Block Chain where everyone has access to it since 2009.
.
14. Apart from Bitcoins, other crypto - currencies has emerged such as Etherium, Litecoins, Dash, Doshcoin, Nubit etc.
.
15. The 3 people with the highest number of bitcoins are:
i. Barry Silbert (cryptocurrency maven)
.
ii. Tim Draper (billionaire venture capitalist)
.
iii. Charlie Shrem (Bitcoin early adopter)
.
16. Examples of big companies that accept Bitcoins are Microsoft, Paypal, Shopify, Wordpress, Reddit, Namecheap, Wikipedia, Badoo and so on.
.
17. On Oct. 2013. The first Bitcoin Atm was made in Canada by Robocoin Mchine in a local coffee shop and since then there have being more than 3150 active bitcoin ATMs around the world,
.
18. The truth is that you dont have to spend money before making bitcoin, you can spend your time and get it converted to money, infact there is a forum for Bitcoin participants i.e Bitcointalk.org with over 2 million users where people join various bounties and earn token for their services.
.
19. Risks of bitcoin
i. political or government intervention. For example China has many times banned bitcoins because of the threat it poses to thier currency.
.
ii. Bugs or software hack. There have been many recorded cases of some wallets apps been hacked thereby leading to consumers losing all their monies. So I will advice you only use Coinbase or My Ether Wallet.
.
iii. Protocols that can lead to panick or lack of trust.
.
Though Bitcoin is still an experiment, but the biggest question is - "will it be widely accepted as a means of payment and store of value like Gold?"
Well I will advice you not to wait until its too late.
.
I earned my first bitcoin here: https://freebitco.in/?r=14831215
.
More info: http://www.ortintin.com/2018/07/19-things-no-one-will-ever-tell-you.html?m=1
Here are things to know about Bitcoins:
.
1. First Bitcoin was first issued in 2009 by someone with a pseudo name Satoshi Nakamoto. Who is also believed to be the founder.
.
2. In 2009 when it was established, a bitcoin is worth $0.0009. I.e
$1 = 1111 Btc
.
3. As at the time of writing this article (24th of July 2018) a bitcoin equals 8164.88 dollars i.e
1 Btc = $8164.88
.
4. The first real-world transaction on Bitcoin was carried out on 22 May 2010 when Laszlo Hanyecz bought two pizzas in Jacksonville, Florida for 10,000 Bitcoins. In five days, the price grew 900%, rising from$0.008 to $0.08 for 1 bitcoin.
.
5. As dollar and other currency are to 2 decimal places, bitcoins is to 8 decimal places i.e
$1 = 0.01 cent
1 btc= 0.00000001 Satoshi
.
6. How do individuals get bitcoins?
i. Buy from person or visit websites that sell bitcoins and pay them. E.g Coinbase
.
ii. Sell product or offer services in exchange for bitcoins or to be paid using bitcoins.
.
iii. Mining (i.e running a software to find bitcoin) just like mining gold.
.
7. How do people profit from bitcoin?
i. Invest or trade i.e you can buy and hold to sell at a later time for profit or do short term trading.
.
ii. Offer discounts to people who are willing to pay using bitcoins. E.g if my phone cost #10,000 in the market, I can decide to sell it for #5000 (worth in bitcoins) if you are willing to pay me in bitcoins. So just convert the #5k to bitcoins and transfer it to me.
.
iii. Mine (mining is free) then sell at the market value
.
8. Certain amount of Bitcoins will be released every ten minutes and total bitcoins that will ever be issued is 21,000,000 which will last till year 2140.
.
9. Just like Fiat currency e.g Dollar and Naira, Bitcoin is not backed by anything tangible. It increases in value by the trust people place on it. The more people try to invest on it, the more it value soar.
.
10. Individual bitcoins are stored in app called Wallets. Examples are Coinbase, My Ether Wallet, Paxful, Mycellium etc.
.
11. Every Bitcoin wallet issues you a
i. Public key -
27 to 32 Alphanumeric (alphabet and number) character. So u give this key to anyone who wish to send you coins.
.
ii. Private key- Password to access ur bitcoin account.
.
12. As at 18/07/2018, Mastercard has won the patent to link cryptocurrency with fiat accounts meaning as a user, you would have two linked accounts with your bank — one for your fiat wealth, and one for cryptocurrency.
.
13. All the bitcoins transactions are stored in a public ledger called Block Chain where everyone has access to it since 2009.
.
14. Apart from Bitcoins, other crypto - currencies has emerged such as Etherium, Litecoins, Dash, Doshcoin, Nubit etc.
.
15. The 3 people with the highest number of bitcoins are:
i. Barry Silbert (cryptocurrency maven)
.
ii. Tim Draper (billionaire venture capitalist)
.
iii. Charlie Shrem (Bitcoin early adopter)
.
16. Examples of big companies that accept Bitcoins are Microsoft, Paypal, Shopify, Wordpress, Reddit, Namecheap, Wikipedia, Badoo and so on.
.
17. On Oct. 2013. The first Bitcoin Atm was made in Canada by Robocoin Mchine in a local coffee shop and since then there have being more than 3150 active bitcoin ATMs around the world,
.
18. The truth is that you dont have to spend money before making bitcoin, you can spend your time and get it converted to money, infact there is a forum for Bitcoin participants i.e Bitcointalk.org with over 2 million users where people join various bounties and earn token for their services.
.
19. Risks of bitcoin
i. political or government intervention. For example China has many times banned bitcoins because of the threat it poses to thier currency.
.
ii. Bugs or software hack. There have been many recorded cases of some wallets apps been hacked thereby leading to consumers losing all their monies. So I will advice you only use Coinbase or My Ether Wallet.
.
iii. Protocols that can lead to panick or lack of trust.
.
Though Bitcoin is still an experiment, but the biggest question is - "will it be widely accepted as a means of payment and store of value like Gold?"
Well I will advice you not to wait until its too late.
.
I earned my first bitcoin here: https://freebitco.in/?r=14831215
.
More info: http://www.ortintin.com/2018/07/19-things-no-one-will-ever-tell-you.html?m=1
Jump to: